Clampdown on directors dissolving companies to evade debts

By Company Commercial

The government is introducing new powers to clamp down on directors who dissolve companies to avoid paying their liabilities. Rogue directors may be required to pay compensation to creditors. The new legislation extends the Insolvency Service’s powers to investigate and disqualify company directors who abuse the company dissolution process. The Rating (Coronavirus) and Directors Disqualification

Directors’ phone conversation amounted to binding agreement

By Company Commercial

The High Court has ruled that a telephone conversation between the managing directors of two companies amounted to a binding agreement and had to honoured. The case involved Mansion Place Ltd v Fox Industrial Services Ltd. Mansion had engaged Fox to refurbish and extend student accommodation. There were delays in the performance of the works.

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